Birla Sun Life Mutual Fund, which manages assets over Rs 9,000 crore (Rs 90 billion), is eyeing acquisition and targets to grow by over 30 per cent this fiscal.

"We are always on the look out to acquire schemes," Birla Sun Life AMC's head of equity, Paras Adenwala, said, adding that the mutual fund was interested in acquiring schemes which are not present in its portfolio.

There has been a spate of acquisitions with IDBI Principal acquiring Sun F&C, HDFC Standard Life AMC taking over Zurich AMC and Templeton buying out Pioneer ITI.

Birla Sun Life has 15 schemes -- seven debt schemes and eight equity schemes -- apart from two offshore schemes, India Advantage Fund and India Excel Fund.

The subsidiary of AV Birla group is also planning to tie up with sister concern Birla Sun Life Insurance to offer insurance cover to mutual fund investors.

"Whenever it is possible to link the two (insurance and mutual fund schemes), we are going to do that," Adenwala said.

He said the AMC has targeted 30 per cent growth this fiscal with the buoyant market conditions.

The AMC is also planning to invest in equities market abroad apart from the domestic market, which was looking up after an array of initial public offers.

"The IPOs, which have been priced at fair value, have activated the primary market. The secondary market is already on the upswing but it might see a technical correction by 10 per cent," Adenwala said.